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NZIER Quarterly Survey of Business Opinion

Written by Sam Coxhead on January 11th, 2011.      0 comments

10:25 AM (NZT) This morning the NZ Institute of Economic Research released their Quarterly Survey of Business Opinion. It showed a reading of 8 , which is a slight improvement on the Oct survey which was 6. A level above indicates optimism.
It shows that the economy has rebounded in the Dec quarter after contracting in the September quarter. But activity has been patchy, with most activity being concentrated in larger firms in the upper North Island.
Inflationary pressure eased in the December quarter which gives the RBNZ a little more room in their projections. Hiring and investment intentions also indicate that the attitude is changing, but the NZIER states that these need to accelerate further to drive a sustainable recovery.
          Last 24 hours trade
  Current level Pre-QSBO Chge since QSBO   Low High
NZD/USD 0.7637 0.7633 0.1%   0.7554 0.7646
AUD/USD 0.9955 0.9963 -0.1%   0.9878 0.9982
NZD/AUD 0.7671 0.7663 0.1%   0.7618 0.7682
AUD/NZD 1.3036 1.3050 -0.1%   1.3017 1.3126
NZD/GBP 0.4905 0.4900 0.1%   0.4876 0.4904
NZD/EUR 0.5899 0.5892 0.1%   0.586 0.5901
NZD/JPY 63.20 63.16 0.1%   62.77 63.36
NZD/CAD 0.7584 0.7581 0.0%   0.7516 0.7594